Elliott Wave Basics · Lesson 5 of 6

Fractality.

The deepest insight of Elliott Wave: the same five-three pattern repeats at every scale of trend. Each wave we draw is itself made up of smaller waves of the same form, and the whole cycle we draw is itself one wave at a larger degree. This lesson walks through that fractal structure.

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Figure V
The same pattern at every scale
Wave Personality
Wave 1
The First Move
Skeptical

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Rule violated: Wave 4 cannot enter Wave 1's territory
Price Time Wave (1) at higher degree Wave (2) at higher degree (i) (ii) (iii) (iv) (v) (a) (b) (c) (i) (ii) (iii) (iv) (v) (a) (b) (c) (i) (ii) (iii) (iv) (v) (i) (ii) (iii) (iv) (v) (a) (b) (c) (i) (ii) (iii) (iv) (v) 1 2 3 4 5 A B C
Step 1 of 8

The Pattern Begins

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